Last calls for Potential, Innovation and Application Programmes

In late August and early September, the Ministry of Industry and Trade announced the long-awaited last calls within the Enterprise and Innovation for Competitiveness Operational Programme (OPEIC). These include calls to participate in programmes…

Who will benefit from abolition of super-gross wage?

The government has decided to proceed with the long-promised abolition of the super-gross wage, while at the same time introducing the progression of personal income tax. The Chamber of Deputies is currently debating an amendment to tax laws, which…

Immovable property acquisition tax – to pay or not to pay?

The bill to abolish the immovable property acquisition tax is currently going through the legislative process. The Ministry of Finance had expected it to pass smoothly and become valid by the end of 2020. The related extraordinary measure of June…

First change to new investment incentive criteria

In response to the coronavirus pandemic, the Ministry of Industry and Trade has submitted an amendment to the Government Decree on Investment Incentives aiming to provide more substantial support for investments involving selected strategic products…

Interest on retained excess deductions – SAC agrees with KPMG

The Supreme Administrative Court (SAC) issued a breaking decision concerning retained excess VAT deductions, confirming that interest on a tax deduction of 1% + repo rate in effect from 1 January 2015 to 30 June 2017 is in conflict with EU law. The…

Quick fixes: GFD’s information and EC’s amended explanatory notes

The Czech amendment to the VAT Act implementing quick fixes is still waiting for its second reading in the Chamber of Deputies. At the end of January, the General Financial Directorate disclosed information confirming the option of invoking the EU…

2019 through the financial administration’s eyes

The Report on the Activities of the Czech Financial Administration for 2019 brings very interesting statistical data and information. For example, in 2019, the financial administration completed a total of 30,073 tax inspections and procedures to…

Last chance to draw support from OPEIC

The Enterprise and Innovation for Competitiveness Operational Programme (OPEIC) under the Ministry of Industry and Trade (MIT) is slowly coming to a close before being replaced by the Technology and Application for Competitiveness Operational…

2021 tax package heading to the Chamber of Deputies

The government has submitted to the Chamber of Deputies a bill to amend tax laws in 2021. What news are to be expected in income tax? Apart from the monetary contributions for meals, the changes mainly concern bonds and reporting of income flowing…

When shall we report under DAC 6 for the first time?

The first-time reporting of cross-border arrangements, originally planned to occur already this summer, will be postponed, most likely to the beginning of the next year: the legislative process implementing DAC 6 has been delayed, and the amendment…

COVID-19 and transfer pricing policy – comparability analysis

With the economic downturn brought about by the COVID-19 pandemic, companies face the challenge of determining whether they should modify their transfer pricing policies. The decision has to be made at a time when comparable data necessary for the…

Postponement of digital economy taxation in both CR and other world countries

Despite assurances made in early March that the COVID-19 pandemic will not slow down negotiations on new international taxation rules applicable to the digital economy, the OECD has now made it clear that it is no longer certain that agreement will…